We wrote up a piece on 0x here: Systems: 0x.
In it, we analyze 0x the system and then understand it within the broader system that is Web3 Order Flow.
We’re posting it here looking for feedback, in particular areas where we are wrong or could be more correct / precise. Planning to broadcast it more widely in web3 soon. Feedback welcome on this thread.
I believe your statements regarding the ZRX token such as “Does not have any utility value” and “ZRX token is not crucial to the system” are accurate regarding the lack of value assigned to the token. I have spoken a lot about this recently but have not had much community interaction. The 0x leadership team refuses to comment on the topic and the token is essentially useless at this point.